Mirova Private Assets - 2025 Year in Review

A Year of Purposeful Integration

As a new year begins, the close of 2025 offers a natural moment to reflect. For us at Mirova, this has been more than just another year; it has been a landmark period of transformation and strategic consolidation. It was the year we formally established our integrated Private Assets platform, a milestone that represents a pivotal step in our mission to direct capital towards a sustainable and equitable economy globally.

This integration was a deliberate strategic choice. Bringing our teams together allows us to innovate across asset classes, identify powerful synergies, and offer our investors sophisticated investment solutions to meet their needs in a complex and dynamic macroeconomic environment.

Throughout 2025, this unified approach has allowed us to broaden our impact. We backed the enabling technologies of tomorrow—from AI-powered platforms optimizing our power grids to companies pioneering a circular economy for sustainable food. We financed high-impact projects to protect and restore our planet’s biodiversity, channeling significant capital into regenerative agriculture, sustainable forestry, and high-integrity carbon solutions from Latin America to India. And across the globe, we invested in the critical infrastructure essential for resilient communities and a net-zero future—from large-scale battery storage and renewable energy platforms in Europe to decentralized solar and electric mobility solutions accelerating energy access in Africa and Asia.

These achievements were only possible thanks to the trust and conviction of two essential groups. To our investors and partners—from the institutions and foundations who entrust us with their capital, to the distribution networks who share our mission—I extend my deepest gratitude. Your belief in our purpose-driven approach fuels our ambition, and your collaboration is essential to scaling our impact.

And to the entire Mirova Private Assets team—our more than 100 dedicated professionals¹ —thank you. Your passion, expertise, and collaborative spirit were the driving force that turned the vision of an integrated platform into a successful reality.

The groundwork laid in 2025 has created a more powerful, agile, and resilient platform, ready to meet the challenges and seize the opportunities that lie ahead. Looking ahead to 2026, we are set to expand our horizons further, in particular in Europe and in Asia. We aim to fortify our presence in new markets like carbon and continue to innovate through strategic fund projects that will shape the future of sustainable finance. As we embark on this journey, I am excited about the new opportunities that await and optimistic about the lasting impact we will make together.

[1] This figure includes personnel in the investment teams as well as support functions, fully or partially working for the private assets platform; keeping into account permanent contracts only.

The information provided reflects MIROVA’s opinion as of the date of this document and is subject to change without notice.